LonRes Research: Prime London Market Update - December 2021 LonRes Research: Prime London Market Update - December 2021

Prime London Market Update

- December 2021 -

The rollercoaster ride of the last 12 months continues for the lettings market as our November figures show that rents continue to rise, stock levels are at historic lows and discounts are a rarity. In fact, discounts are now at their lowest level since LonRes records began in 2005.  

For sales, 2021 has undoubtedly been a good year and, despite the usual seasonal slowdown in activity, the top end of the market continues to be busy. Sales over £2 million have been higher than the long-run 2015 to 2019 average every month since July 2020.

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  • Sales market

    27.6% fewer flats were listed in this November compared with last, while family house listings were up by 0.7%
  • Sales charts

    November 2021 - Annual change in New Instructions, Transactions & Prices | Value of sales by type

  • Lettings market

    Rents continue to rise, now standing 2.7% above pre-pandemic levels (Feb 2020) and 4% higher than in November 2019

  • Lettings charts

    Average discount achieved off initial asking rent | Change in rents since February 2020

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